Genetic testing firm 23andMe files for bankruptcy
Gene testing firm 23andMe said on Sunday it had filed for Chapter 11 bankruptcy protection in order to facilitate its sale, after years of struggling to find a sustainable business model.
In a statement announcing the bankruptcy, the firm said its CEO, Anne Wojcicki, had resigned effective immediately. She will remain on the company’s board of directors.
“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Mark Jensen, chair and member of the Special Committee of the board of directors, said in the statement.
Late last year, the company said it was cutting about 40% of its workforce - around 200 employees - and discontinuing further development of all its therapies as part of a restructuring program, according to Reute
https://www.cnn.com/2025/03/24/tech/23andme-bankruptcy-hnk-intl]
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